French fund manager BNP Paribas Asset Management announced on Tuesday that its cleantech fund raised €150 million ($166.74 million) in July and is expected to close before the end of the year.
According to the company, the capital will enable BNP Paribas Solar Impulse Venture Fund to make 15-20 investments into European and North American high-potential growth startups.
BNPP SIVF is a specialized investment fund created through a partnership between BNPP AM and Bertrand Picard’s Solar Impulse Foundation.
The fund targets sectors such as energy transition, sustainable agriculture and food. It also focuses on the circular economy, water and ocean management, smart cities and sustainable mobility.
Clean Spaces
One of its first investments includes NatureMetrics, a British startup developing a measurement and monitoring of biodiversity solutions based on environmental DNA samples.
The venture fund also invested in Phenix, a French startup active in the circular economy, helping reduce food and nonfood waste.
It financed Axioma, another French bio-solutions startup that accelerates the ecological transition of agriculture, mitigating hydric stress for plants.
Hello Watt, a Paris-based startup that reduces energy consumption for individuals and businesses, also benefitted from BNPP SIVF.
BNP’s asset management arm also invested in Chemix, a US tech company revolutionizing next-generation battery design thanks to its GenAI-powered self-driving lab.
The company provided an initial €75 million commitment at the launch of the fund, and the strategy has since opened to third-party capital, with Limited Partners including a mix of institutional, corporate, and family office investors. The fund has a hard cap of €200 million.
Green Goals
“We are delighted to have reached this milestone for the BNPP Solar Impulse Venture Fund and to have already invested in five flagship promising startups,” said Yann Lagalaye, managing partner of the BNPP SIVF, in a statement.
As the fund nears its anticipated closure with a robust portfolio, the future looks promising for both the benefactors of these investments and the broader goal of achieving a sustainable and technologically advanced future.
“We will continue, along with the Solar Impulse Foundation, to identify and support game-changer companies for the ecological transition,” said David Bouchoucha, head of private assets at BNPP AM.
Read More:
$12 Trillion Investment is Required for Global Renewable Energy Expansion
